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Dan Friedberg‘s Sagard Capital Partners Management Corp reported dumping its entire stake in Innerworkings Inc (NASDAQ:INWK) via an amended 13D filing with the Securities and Exchange Commission. According to the filing, the fund doesn’t own any shares of the company in which it previously held 7.16 million shares, which accounted for 13.1% of the company’s outstanding stock. Dan Friedberg was a Director of Innerworkings Inc (NASDAQ:INWK), but resigned from his position on August 15.

Innerworkings is a global marketing executions company that provides its professional services to Fortune 500 brands covering a variety of industries, which operates in three divisions: Latin America, North America, and EMEA. Over the past 12 months, the company’s stock is up by 19.22%. For the second quarter of 2016, Interworkings disclosed non-GAAP diluted earnings per share of $0.11 and revenue of $269.2 million, topping the estimates $0.04 and $265.1 million respectively.

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According to Insider Monkey’s database, there was no change in the number of hedge fund positions in Innerworkings (NASDAQ:INWK) in the second quarter, among those in our database, as 11 investors were long the stock at the end of June. Among them were Jim Simons’ Renaissance Technologies, which held a position worth around $2.77 million, Chuck Royce’s Royce & Associates, with a position valued at $943,000, and Ken Griffin’s Citadel Investment Group. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors initiated a new position in the company during the quarter, worth $170,000 at the end of June.

(Name, Address and Telephone Number of PersonAuthorized to Receive Notices and Communications)

September 8, 2016(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ].

NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).